Space Exploration Technologies Corp. shares jumped 10.23% to $212.19 in pre-market trading on Tuesday, pushing the company's valuation to $2.78 trillion. The surge follows a Monday close of $192.50, adding approximately $258 billion in market value. Investor enthusiasm remains high, with notable figures citing strong fundamentals and future growth prospects.

Market Reaction and Valuation

The stock's rise builds on its recent IPO performance, where it opened at $150.00 against an IPO price of $135. The pre-market activity on Tuesday reflects continued momentum from the 19.60% gain recorded on Monday. The following table details the recent price movements:

Investor Sentiment

Jim Cramer observed that buyers "can't stop buying" the stock, noting a lack of sellers in early trading. He suggested that without significant institutional selling, the price could continue to rise substantially. This sentiment aligns with the broader market reaction to the company's debut and subsequent performance.

Long-Term Projections

Ron Baron, founder of Baron Capital, disclosed that the firm increased its position by purchasing an additional $1 billion of stock, bringing total holdings to $25 billion. Baron defended the valuation, citing an internal prospectus that indicates the company is "at least ten years ahead of everyone else." He reiterated a target of $1 trillion in revenue by 2030, a significant increase from the previous year's $19 billion baseline.

Gavin Baker, appearing on TBPN, emphasized that the company's value extends beyond launch services. He highlighted the rapid deployment of terrestrial AI data centers and power grids, citing a Google hosting deal that generates $50 billion per gigawatt. Baker described the enterprise as a "token factory" with strong appreciation potential over the next 5 to 10 years.

Space Exploration Technologies Corp.'s market capitalization crossed above $3 trillion in after-hours trading on Monday, surpassing the valuations of Microsoft Corp. and Amazon.com Inc. This surge has increased CEO Elon Musk's net worth by approximately $165 billion, bringing his total fortune to over $1.3 trillion. The rally follows the company's recent initial public offering (IPO), which raised $85.9 billion via an overallotment option, and has solidified Musk's status as a centi-trillionaire.

Market Valuation and Comparisons

SpaceX's valuation now exceeds the market capitalizations of major technology giants. Microsoft reported a market cap of $2.97 trillion with revenue of $318 billion and net income of $125 billion. Amazon reported a market cap of $2.65 trillion with revenue of $743 billion and net income of $91 billion. In contrast, SpaceX reported revenue of $19 billion and a net loss of $9 billion, including a loss of approximately $4.3 billion in the first quarter of 2026.

Elon Musk's Wealth and Stake

The increase in SpaceX's stock price has significantly boosted Musk's wealth. His net worth now exceeds the market capitalization of all but 12 public companies globally. The combined market capitalization of SpaceX and Tesla Inc. has also surpassed that of Apple Inc. Musk's 38% stake in SpaceX remains a primary driver of his wealth accumulation.

Sector Impact and Commentary

The stock's performance has drawn mixed reactions. While investors like Charlie Bilello highlighted the historical nature of the valuation, economist Robert Reich criticized the IPO as the "universe's largest Ponzi scheme." SpaceX shares were up 3.49% to $199.21 during the after-hours trading session.